Charlie Munger Quotes

I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat... Maybe in the new world, something gets backed by consensus.

Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. No government will ever support a virtual currency that goes around borders and doesn't have the same controls. It's not going to happen.

Bitcoins can be traded or used for purchases, but only with those sellers who will accept them. Because it is a system independent of external meddling, there can be no sudden devaluation of Bitcoins through the actions of governments.

The only thing I can do with my bitcoin is give it to somebody else.

It's important not to think about Bitcoin as a replacement for cash or gold or something that works alongside that; it's to think of it as programmable money. And we just cannot even imagine what that will be used for.

Bitcoin is like anything else: it's worth what people are willing to pay for it.

If you like gold, there are many reasons you should like Bitcoin.

Bitcoin and other cryptocurrencies are a form of money that's a stable field that the government can't destroy and can't distort. Because its creation is governed by the laws of mathematics. It can't happen any faster or slower than a certain rate, and it all sort of self-adjusts.

Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. It is our Lehman Brothers.

You look at Bitcoin, and it is an entirely new currency, completely decentralized, anonymous; transactions occur incredibly fast for free, all designed by the free market.

I believe that Bitcoin holds value as a form of 'good money' that is superior to any previously discovered or developed form of money.

Some of the bitcoin community come from that kind of anarchistic, libertarian view. But, one reason why I think Ripple has been very successful is because we work with the system.

You can hold your Bitcoin in Ripple. We want to be agnostic to any currency, whether that be a virtual currency, political currencies, or peer-to-peer currencies.

I'm much more confident with crypto than with banks or fiat currency because I can actually control it, and the money supply is transparent, stated up front. It makes online shopping a lot easier and a lot safer.

Bitcoin is my baby; it's my whole world and my whole life. It's what I was put on this earth to do.

We eat, sleep, breathe bitcoin.

You can crank out Bitcoins on a PC, but it's an incredibly computer-intensive task, and it will keep getting harder as the number of Bitcoins in existence increases. Some people have pooled together hundreds of machines to 'mine' Bitcoins. Most folks, however, just buy them on an exchange.

The ability to easily buy and sell Bitcoin has been a really key factor in accelerating Bitcoin adoption.

I am really surprised bitcoin isn't more popular in India, given the strong gold culture here. I call it Gold 2.0. It has all the attributes other than the fact that it isn't tangible, and tangibility is less important in the digital age.

My belief is that the vast majority of people using digital currency today are not seeking to evade taxes. They are simply investors seeking returns and people interested in a nascent new technology.

When we started ShapeShift, a future world of natively digital assets was very theoretical.

Bitcoin frees people from trying to operate in a modern market economy.

I'd guess blockchains will be the full-blown backbone of virtual worlds - the system for currency, assets, identity, even governance - before doing the same in the 'real world.' Which is where I think we will end up in the real world eventually; it's just a matter of which goes first and how long until it's the case for both.

If you look at the trends, China very well could be the driver of the adoption of block chain consumer services.

Blockchain Capital was the first dedicated venture fund to invest in crypto and blockchain.